What is item type of business transaction in SAP (FS-BA-PM-AFP - Accounting for Financial Products)?

SAP Term: item type of business transaction

• Component: FS-BA-PM-AFP

• Component Name: Accounting for Financial Products

• Description: Describes an item of the business transaction. The system uses the item type and the item template assigned to it to find journals and key figures, and to carry out certain checks. &example& Division of purchase of a financial product into the purchase price, the accrued interest, the commission, and the brokerage.

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• Key Concepts: 
  The item type of business transaction is a component of the SAP FS-BA-PM-AFP Accounting for Financial Products module. It is used to define the characteristics of a business transaction, such as the type of transaction, the account assignment, and the posting rules. It also determines how the transaction is posted to the general ledger. 
  
  How to use it: 
  The item type of business transaction is used to define the characteristics of a business transaction. This includes the type of transaction, the account assignment, and the posting rules. The item type also determines how the transaction is posted to the general ledger. To use this component, users must first define an item type in the system. This can be done by entering the necessary information into the relevant fields in the system. Once an item type has been defined, it can be used to create a business transaction. 
  
  Tips & Tricks: 
  When defining an item type for a business transaction, it is important to ensure that all necessary information is entered correctly. This will ensure that the transaction is posted correctly to the general ledger. Additionally, it is important to ensure that all relevant fields are filled out correctly when creating a business transaction using an item type. This will ensure that all necessary information is included in the transaction and that it is posted correctly to the general ledger. 
  
  Related Information: 
  For more information on using SAP FS-BA-PM-AFP Accounting for Financial Products, please refer to SAP’s official documentation or contact your local SAP support team. Additionally, there are many online resources available that provide tutorials and tips on using this module.